Crypto Academy Season 4 Beginners' course - Task 1: Tron Ecosystem | By @Emma55
Greetings Everyone
Today I come to perform task 1 of the introductory course of week 4 of Steemit Crypto Academy, our teacher @sapwood tells us about the TRON ecosystem and its different dApps, for this task I have chosen the following questions
Make a STEEM and TRX (micro-amount) transfer to the Poloniex Exchanger What are the different markets available for TRX and STEEM to trade on Poloniex? Make a small exchange on TRX or STEEM on Poloniex What is the withdrawal fee for TRX, STEEM and TRC20 USDT on Poloniex? How profitable is TRC20 USDT compared to ERC20 USDT? Make a comparison of the TRC 20 USDT withdrawal fees with other major exchanges.
Make a STEEM and TRX (micro-quantity) transfer to the Poloniex Exchanger
To deposit STEEM to poloniex we must first look for our memo address in the exchange, I will use the poloniex website on my andriod phone.
The first thing will be to enter the application and in our portfolio we will see the following button on which we will click to see a menu of options that we will later use.
Then we will use the button to enter, which will take us to our next step.
Then we will see a list with the cryptocurrencies that we can deposit, you must locate STEEM and select it, as I have already searched for it before, it appears in the TOP.
Once in the section you will see the memo address that you will need to use to send your Steem to poloniex, just enter your steem wallet and make the transfer with said memo.
The transfer is ready and a few minutes later you will be able to see the transfer in pending status in your poloniex activity menu.
It will take about 5 minutes or more depending on the network that day for the deposit to be done and you can see your balance.
What are the different markets available for TRX and STEEM to trade on Poloniex?
To list the markets available for TRX we will go to the spot trade section.
Once there we will observe the number of TRX cryptocurrency markets pair available at the moment, if we open the TRX option we will see the extensive list of available markets.
Now, the STEEM markets listed in the last 24 hours can be found by going to our portfolio and locating steem there.
When you enter there you will see the STEEM markets listed in the last 24 hours.
Make a small exchange on TRX or STEEM on Poloniex
This time we will make an exchange in the USDT / STEEM market, we will simply have to locate it.
There we enter the exchange steem/usdt where we do the exchange either buy or sell.
Fill in the form and we place our order which, depending on the time it takes, will be processed.
What is the withdrawal fee for TRX, STEEM and TRC20 USDT on Poloniex?
Using a withdrawal form for each cryptocurrency we will see details of the withdrawal fees in each case.
TRX
The withdrawal fee for TRX is a fixed amount of 0.01 TRX.
Steem
The withdrawal fee for STEEM is a fixed amount of 0.01 STEEM.
TRC20 USDT
Withdrawal fees for USDT are 0.
How profitable is TRC20 USDT compared to ERC20 USDT?
If we try to create a withdrawal through the ERC20 network we can see that the withdrawal includes a huge fee of 27.17 USDT, which is clearly not profitable compared to the withdrawal through the TRC20 network.
It is always smart advisable to use the TRC20 network as it is safer, faster and more affordable.
Make a comparison of the TRC 20 USDT withdrawal fees with other major exchanges.
Withdrawing USDT in another exchange such as Binance through the TRC20 network takes away 1 USDT per trade, which compared to the zero commission that Poloniex has for this token is really large.
Conclusion
Poloniex is an exchange still in development that also has low commissions and a big number of tokens to use. This is my favorite, I have used it to handle a large number of cryptocurrencies such as DOGE, TRX, USDT, STEEM, SHIB, etc. Also for STEEM users it is perfect to get the most out of our tokens.
All screenshots are my property taken in the poloniex website on my browser with my Tecno.
